The aim of the present paper is to improve the analyses of Refs. [1]}, [2]} in a few aspects. Mainly, all \(1/N_c\)  corrections to the baryon magnetic moment allowed for \(N_c=3\)  will be evaluated, motivated by a recent calculation of the baryon axial coupling [3]}. While corrections of order \(\mathcal {O}(m_q^{1/2})\)  will be carried out for nonzero \(\Delta \) , corrections of order \(\mathcal {O}(m_q \ln m_q)\)  will keep the \(\Delta =0\)  assumption for reasons that will become apparent later. Complete expressions for all 27 magnetic moments of octet and decuplet baryons and decuplet-octet transition moments are provided. Despite their lengths, the analytical forms are basically simple and organized in a way that are easy to handle. Their main usefulness lies in that they can be used to perform an analytical comparison to the available expressions obtained in heavy baryon chiral perturbation theory of Ref. [4]}. Therefore, the main contribution of this paper is to explicitly show that baryon chiral perturbation theory in the large-\(N_c\)  limit and conventional heavy baryon perturbation theory (the effective field theory with no \(1/N_c\)  expansion) analyses of baryon octet magnetic moments fully agree at the physical value \(N_c=3\)  for \(N_f=3\)  flavors of light quarks.
